(Former
name or former address, if changed since last report.)
Securities registered pursuant to Section 12(b) of the
Act:
Common Stock 1/3 of $.01 par value
PCYO
The NASDAQ Stock Market
(Title
of each class)
(Trading
Symbol(s))
(Name
of each exchange on which registered)
Check
the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2.
below):
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Written communications pursuant to Rule 425 under the Securities
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act
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Pre-commencement communications pursuant to Rule 14d-2(b) under the
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Indicate
by check mark whether the registrant is an emerging growth company
as defined in Rule 405 of the Securities Act of 1933
(§ 230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§ 240.12b-2 of this
chapter).
Emerging growth
company
If an
emerging growth company, indicate by check mark if the registrant
has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided
pursuant to Section 13(a) of the Exchange
Act.
This
current report on Form 8-K is filed by Pure Cycle Corporation (the
“Registrant”), a Colorado corporation, in connection
with the matters described herein.
Item
5.02
Departure
of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
(c) Appointment
of Officer
On
April 1, 2020, Kevin B. McNeill, age 48, joined the Registrant as
Vice President, and the board of directors of the Registrant voted
to elect Mr. McNeill as Chief Financial Officer, principal
accounting officer and principal financial officer of the
Registrant effective as of April 10, 2020. Mark W. Harding will
continue to serve as the Registrant’s President and Chief
Executive Officer, but will relinquish his position as Chief
Financial Officer, principal accounting officer and principal
financial officer effective as of April 10, 2020.
Mr.
McNeill has more than 24 years of accounting and finance
experience. Prior to joining the Registrant, Mr. McNeill was the
VP, Chief Financial Officer and Chief Compliance Officer, from July
2018 through March 2020, of TCG Group Holdings, LLP, a privately
held wealth management company in Austin, Texas. From May 2012 to
July 2018, Mr. McNeill was the Controller for First Western
Financial, Inc., where he played an integral role in the successful
completion of First Western’s initial public offering. Mr.
McNeill began his career with Ernst and Young in Denver in the
Audit and Advisory Business Services group. After being promoted to
Audit Manager, Mr. McNeill transitioned to corporate accounting and
served in various positions, including serving as Controller of the
Registrant from 2004 through May 2012. Mr. McNeill obtained his
Bachelor Degree and Master of Accountancy from the University of
Denver and is a licensed Certified Public Accountant.
There
are no arrangements or understandings between Mr. McNeill and any
other persons pursuant to which he was selected as an officer of
the Registrant. Mr. McNeill has no family relationship with any
director or executive officer of the Registrant and has not been
involved in any related party transaction that would require
disclosure pursuant to Item 404(a) of Regulation S-K.
Mr.
McNeill entered into an offer letter with the Registrant providing
for at-will employment with an annual base salary of $225,000. Mr.
McNeill will be eligible for discretionary bonuses on the same
basis as other officers and key employees of the Registrant. In
addition, he will be eligible to the standard benefits available to
all full-time employees of the Registrant.
Press
Release dated April 2, 2020 announcing the appointment of Kevin B.
McNeill as Vice President and Chief Financial Officer of the
Registrant.
SIGNATURE
Pursuant to the
requirements of the Securities Exchange Act of 1934, as amended,
the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
